Mar, 31, 2021 — DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION is a federal credit union headquartered in WASHINGTON, DC with 3 branch locations and about $565.31 million in total assets. Opened 57 years ago in 1964, DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION has about 18,358 members and employs 82 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | P.O. BOX 14720 WASHINGTON, DC 20044 |
| Phone: | (202) 808-3600 |
| Fax: | (202) 482-4317 |
| Website: | http://www.docfcu.org |
| Branches: | 3 branch locations |
| Members: | 18,358 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16410 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Mar 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $565,312,169 |
| CEO/Manager: | Evan Clark |
| Chairperson: | James Boney |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 74,973,205 |
| TOTAL INVESTMENTS | 104,720,458 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 315,307,077 |
| Unsecured Loans | 29,709,932 |
| Other Loans | 22,688,224 |
| TOTAL LOANS | 367,705,233 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,473,695 |
| Land And Building | 0 |
| Other Fixed Assets | 1,863,402 |
| NCUSIF Deposit | 3,877,863 |
| All Other Assets | 13,645,703 |
| TOTAL ASSETS | 565,312,169 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 40,000,000 |
| Accounts Payable & Other Liabilities | 7,890,600 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 4,400,000 |
| Share Drafts | 94,223,014 |
| Regular shares | 111,044,984 |
| All Other Shares & Deposits | 264,624,101 |
| TOTAL SHARES & DEPOSITS | 469,892,099 |
| TOTAL LIABILITIES | 522,182,699 |
| Regular Reserve | 3,094,501 |
| Other Reserves | 2,092,072 |
| Undivided Earnings | 37,942,897 |
| TOTAL EQUITY | 43,129,470 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 565,312,169 |
| INCOME & EXPENSE | |
| Loan Income | 4,199,104 |
| Investment Income | 423,536 |
| Other Income | 73,579 |
| Total Employee Compensation & Benefits | 2,469,859 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,510,676 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 14,956 |
| Cost of Funds | 1,389,444 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,116,049 |
| ↑ Back to Top | |